BTG Pactual Said to Hire Itau's Borges for Latin America

By Cristiane Lucchesi -
Sep 18, 2012

Grupo BTG Pactual, controlled by
the Brazilian billionaire Andre Esteves, hired Adriano Lima Borges as head of the Latin American business except Brazil,
according to two people familiar with the matter.

Borges was a director of Itau BBA, the wholesale arm of
Itau Unibanco Holding SA (ITUB4), since August 2009. He was a managing
director of Merrill Lynch & Co. from May 2008 to June 2009 and a
senior banker at Credit Suisse Group AG in Brazil. Borges has
also worked for Lehman Brothers Holdings Inc.

Borges didn’t respond to calls for comment. Officials at
Itau and BTG declined to comment.